In July 2024, the number of registered workers in Armenia reached 759,079, which is 4.6% higher compared to the same period last year.
The average monthly nominal wage amounted to 286,215 drams (about $732 USD), marking a 6.1% increase compared to July 2023. The primary drivers of wage growth were salary increases in both the public sector (up 12.9%) and the private sector (up 4.1%).
It is also noted that in July 2024, the annual inflation rate in Armenia's consumer market was 1.4%, while a deflation of 0.4% was recorded compared to the previous month.
